Introduction
The SBI Pulse Credit Card is designed for individuals seeking a blend of health benefits, rewards on specific spending categories, and travel perks. This card is particularly appealing to those who value health-related benefits and frequently spend on dining, movies, sports, and pharmacy-related purchases. With a comprehensive range of features including welcome gifts, reward points, and various insurance covers, the SBI Pulse Credit Card stands out in the competitive landscape of credit cards.
SBI Pulse Credit Card
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Joining Benefits of SBI Pulse Credit Card
- Welcome Bonus: Complimentary Noise ColorFit Pulse Smartwatch on payment of the joining fee.
- Health Benefits: Free Fitpass Pro membership worth โน15,000 for access to gyms and fitness centers.
- Reward Points: 5x reward points on dining, movies, grocery, and departmental store spends.
- Fuel Surcharge Waiver: 1% waiver on fuel transactions.
- Annual Fee Reversal: Annual fee reversed on spending โน2 lakhs in a year.
- Doctor Consultation: Free online consultations via Practo.
- Comprehensive Insurance: Complimentary personal accidental insurance cover.
- Interest-Free Period: Up to 50 days of interest-free credit.
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Card Features and Benefits
The SBI Pulse Credit Card comes packed with numerous features and benefits that cater to a wide range of needs, from health and wellness to rewards and travel perks. Hereโs a detailed look at what the card offers:
Welcome Gift
- Noise ColorFit Pulse 2 Max Smart Watch: New cardholders receive a Noise ColorFit Pulse 2 Max Smart Watch worth Rs. 5,999 upon payment of the joining fee. This welcome gift is an attractive incentive for fitness enthusiasts.
Health Benefits
- FITPASS PRO Membership: Enjoy a complimentary 1-year FITPASS PRO membership every year upon card renewal. This membership provides access to various fitness centers and workout regimes, supporting a healthy lifestyle.
- Netmeds First Membership: Receive a 1-year complimentary Netmeds First membership each year upon card renewal. This membership offers benefits such as discounts on medicines and priority customer service, enhancing your health management experience.
Reward Points
- Category-Based Rewards: Earn 10 Reward Points per Rs. 100 spent on categories such as chemist, pharmacy, sports, dining, and movies.
- General Spending Rewards: Accumulate 2 Reward Points per Rs. 100 spent on all other transactions.
- Redemption Options: Reward Points can be redeemed for a variety of gifts or used to offset the outstanding balance on the credit card. Four Reward Points equate to Rs. 1.
Milestone Benefits
- Renewal Fee Waiver: Get your annual renewal fee waived on achieving annual spends of Rs. 2 lakhs.
- E-Voucher: Receive a Rs. 1,500 e-voucher upon reaching annual retail spends of Rs. 4 lakhs. This milestone benefit provides additional value to high spenders.
Comprehensive Insurance Cover
- Fraud Liability Insurance: Avail of a fraud liability cover of Rs. 1 lakh, offering protection against unauthorized transactions.
- Air Accident Cover: Benefit from an air accident insurance cover of Rs. 50 lakhs, ensuring peace of mind while traveling.
Lounge Benefits
- Domestic Lounge Access: Enjoy 8 complimentary domestic lounge visits per year, capped at 2 visits per quarter. This benefit enhances your travel experience by providing comfort and convenience at airports.
- Priority Pass Membership: Receive a complimentary Priority Pass membership worth US $99 for the first two years, although this does not include complimentary visits. The membership provides access to over 1,300 airport lounges worldwide.
Additional Features
- Fuel Surcharge Waiver: Get a 1% fuel surcharge waiver for transactions between Rs. 500 and Rs. 4,000, with a maximum waiver of Rs. 250 per statement cycle.
- Contactless Transactions: The card supports contactless payments, making everyday purchases quick and secure.
- Worldwide Acceptance: Use the card at over 24 million outlets globally, including 3.25 lakh outlets in India.
- Add-On Cards: Empower family members with add-on cards for parents, spouse, children, or siblings above 18 years of age.
- Cash Withdrawal: Withdraw cash from over 1 million VISA ATMs worldwide.
- Utility Bill Payment: Pay various utility bills using the Easy Bill Pay facility.
- Flexipay: Convert transactions of Rs. 2,500 or more into easy monthly installments with the Flexipay option.
- Balance Transfer on EMI: Transfer outstanding balances from other credit cards to the SBI Pulse Credit Card and repay in EMIs at a lower interest rate.
Fees and Charges
The SBI Pulse Credit Card has a structured fee system that is designed to provide clarity and transparency to cardholders. Here is a detailed breakdown of the fees and charges associated with this card:
Annual Fee
- One-Time Fee: The card carries a one-time annual fee of Rs. 1,499 plus applicable taxes.
- Renewal Fee: The renewal fee is Rs. 1,499 plus taxes per annum, starting from the second year. This fee can be waived if the cardholder's annual spends exceed Rs. 2,00,000 in the previous year.
Add-On Fee
- Annual Fee for Add-On Cards: There is no annual fee for add-on cards, making it cost-effective to extend the card benefits to family members.
Additional Fees and Charges
- Interest Rates: The applicable interest rates and other charges can be found in the Most Important Terms & Conditions provided by SBI Card.
- Late Payment Charges: These charges are detailed in the terms and conditions and depend on the outstanding balance.
- Cash Advance Fee: A fee is applicable for cash withdrawals from ATMs, typically a percentage of the amount withdrawn.
- Overlimit Fee: A fee charged if the cardholder exceeds the assigned credit limit.
- Foreign Transaction Fee: A fee applicable to transactions made in foreign currency.
- Other Charges: Fees for services such as card replacement, balance transfer, and others are specified in the terms and conditions.
Order of Payment Settlement
Payments made towards the SBI Pulse Credit Card are settled in the following order:
- Minimum Amount Due: Includes taxes, EMI on loan plans, fees, and interest charges.
- Fees and Other Charges: Any applicable fees and charges.
- Interest Charges: Any interest accrued on the outstanding balance.
- Principal Amount: The remaining outstanding balance.
Important Notes
- Cheque Payments: Submit account payee cheques following CTS 2010 standards for timely processing.
- Taxes: All taxes are charged as applicable on all fees, interest, and charges.
- Acceptance of Terms: Continued use of the card indicates acceptance of any amendments to the terms and conditions.
- Helpline: For assistance, cardholders can contact the SBI Card helpline at 1860 180 1290 or 39 02 02 02 (prefix local STD code).
User Experience
The user experience of the SBI Pulse Credit Card is shaped by its extensive features, ease of use, and customer support. Hereโs an in-depth look at the user experience associated with this card:
Application and Approval Process
- Online Application: Prospective cardholders can apply for the SBI Pulse Credit Card online through the SBI Card website, making the application process convenient and accessible.
- Approval Time: The approval process is generally quick, with applicants receiving feedback within a few days. Required documents can be submitted online, further streamlining the process.
Everyday Usage
- Contactless Payments: The card supports contactless transactions, allowing for quick and secure payments without the need to swipe or insert the card.
- Global Acceptance: With acceptance at over 24 million outlets worldwide and 3.25 lakh outlets in India, cardholders can use the SBI Pulse Credit Card for a wide range of purchases both domestically and internationally.
- Add-On Cards: The provision of add-on cards for family members enhances the convenience and usability of the card for the entire household.
Rewards Redemption
- Flexibility: The rewards program offers flexibility in redemption options. Cardholders can use their accumulated reward points to pay off outstanding balances or redeem them for a variety of gifts from the SBI Card rewards catalog.
- Ease of Tracking: The SBI Card online portal and mobile app provide an easy way for cardholders to track their reward points, view statements, and manage their account.
Customer Support
- 24/7 Helpline: The SBI Card helpline is available 24/7, ensuring that cardholders can get assistance whenever needed. The helpline can be reached at 1860 180 1290 or 39 02 02 02 (prefix local STD code).
- Online Assistance: Cardholders can also access support through the SBI Card website, which offers a comprehensive FAQ section and the ability to log service requests online.
Health and Wellness Benefits
- FITPASS PRO and Netmeds First Memberships: The complimentary memberships to FITPASS PRO and Netmeds First are valuable additions, promoting a healthy lifestyle and providing discounts on medical purchases and services.
- Ease of Renewal: These memberships are renewed annually with the card renewal, ensuring continuous benefits without additional effort from the cardholder.
Travel Benefits
- Lounge Access: Complimentary domestic lounge access enhances the travel experience, providing a comfortable and relaxing environment at airports.
- Priority Pass Membership: The Priority Pass membership extends the benefit to international travel, offering access to over 1,300 lounges worldwide.
Security Features
- Fraud Liability Insurance: The fraud liability cover protects cardholders against unauthorized transactions, providing peace of mind.
- Air Accident Cover: The substantial air accident insurance cover further enhances the security aspect of the card, especially for frequent travelers.
Pros and Cons
To provide a balanced view of the SBI Pulse Credit Card, here is a summary of its pros and cons:
Pros
- Health and Wellness Benefits:
- FITPASS PRO Membership: Access to various fitness centers and workout regimes, encouraging a healthy lifestyle.
- Netmeds First Membership: Discounts on medicines and priority customer service, enhancing health management.
- Reward Points:
- Category-Based Rewards: High reward points (10 RP per Rs. 100) on spends at chemists, pharmacies, sports, dining, and movies.
- General Rewards: Earn 2 Reward Points per Rs. 100 on all other spends.
- Welcome Gift:
- Noise ColorFit Pulse 2 Max Smart Watch: A valuable welcome gift worth Rs. 5,999, adding immediate value to new cardholders.
- Travel Benefits:
- Domestic Lounge Access: 8 complimentary visits per year enhance the travel experience.
- Priority Pass Membership: Complimentary for the first two years, providing access to over 1,300 lounges worldwide.
- Comprehensive Insurance:
- Fraud Liability Cover: Protection against unauthorized transactions up to Rs. 1 lakh.
- Air Accident Cover: Substantial coverage of Rs. 50 lakh for air travel accidents.
- Fee Waiver:
- Renewal Fee Waiver: Achievable on spending Rs. 2 lakhs annually, encouraging higher card usage.
- Additional Features:
- Fuel Surcharge Waiver: 1% waiver on fuel transactions.
- Contactless Payments: Convenient and secure payment method.
- Add-On Cards: No annual fee for add-on cards for family members.
Cons
- Annual and Renewal Fees:
- High Fees: The annual and renewal fees are higher compared to some other cards in the market, which may be a consideration for budget-conscious users.
- Limited International Lounge Access:
- No Complimentary International Visits: The Priority Pass membership does not include complimentary international lounge visits, which may be a drawback for frequent international travelers.
- General Spending Rewards:
- Lower Reward Rate on General Spends: While the card offers high rewards in specific categories, the reward rate for general spends is relatively lower (2 RP per Rs. 100).
- Milestone Benefits:
- High Spend Requirement for E-Voucher: The Rs. 1,500 e-voucher is only available on annual spends of Rs. 4 lakhs, which might be challenging for some users to achieve.
- Interest Rates and Charges:
- Potentially High Charges: Detailed fees and interest rates, which might be higher in certain scenarios, are specified in the terms and conditions and should be reviewed carefully.
Comparative Analysis
To provide a clear understanding of how the SBI Pulse Credit Card stands against other similar credit cards in the Indian market, we will compare it with the HDFC Bank Regalia Credit Card and the ICICI Bank Coral Credit Card. The comparison will focus on key aspects such as annual fees, reward points, travel benefits, health benefits, and insurance coverage.
| ๏ปฟFeature | SBI Pulse Credit Card | HDFC Bank Regalia Credit Card | ICICI Bank Coral Credit Card |
|---|---|---|---|
| Annual Fee | Rs. 1,499 + Taxes | Rs. 2,500 + Taxes | Rs. 500 + Taxes |
| Renewal Fee | Rs. 1,499 + Taxes (waived on Rs. 2L annual spend) | Rs. 2,500 + Taxes (waived on Rs. 3L annual spend) | Rs. 500 + Taxes (waived on Rs. 1.5L annual spend) |
| Welcome Gift | Noise ColorFit Pulse 2 Max Smart Watch | N/A | N/A |
| Reward Points | 10 RP per Rs. 100 on chemist, pharmacy, sports, dining, movies; 2 RP per Rs. 100 on others | 4 RP per Rs. 150 spent on all categories | 2 RP per Rs. 100 on groceries, dining, entertainment; 1 RP per Rs. 100 on others |
| Health Benefits | FITPASS PRO and Netmeds First Membership | N/A | N/A |
| Milestone Benefits | Rs. 1,500 e-voucher on Rs. 4L annual spend | N/A | N/A |
| Lounge Access | 8 domestic lounge visits per year | 12 domestic and international lounge visits per year | 2 domestic lounge visits per quarter |
| Priority Pass | Complimentary for first 2 years | Complimentary with 6 international lounge visits | N/A |
| Insurance Coverage | Fraud liability: Rs. 1 lakh; Air accident: Rs. 50 lakh | Air accident: Rs. 1 crore; Emergency overseas hospitalization: Rs. 15 lakh | Air accident: Rs. 10 lakh |
| Fuel Surcharge Waiver | 1% waiver on transactions Rs. 500 - Rs. 4,000 (max Rs. 250/month) | 1% waiver on transactions Rs. 400 - Rs. 5,000 (max Rs. 500/month) | 1% waiver on transactions Rs. 400 - Rs. 4,000 (max Rs. 100/month) |
| Contactless Payments | Yes | Yes | Yes |
| Add-On Cards | Free | Free | Free |
| Global Acceptance | Yes | Yes | Yes |
Conclusion and Overall Rating
The SBI Pulse Credit Card is a well-rounded offering, particularly suited for individuals who prioritize health and wellness benefits alongside earning rewards for everyday spending. It stands out in several key areas, providing a comprehensive package that includes valuable welcome gifts, robust rewards, and significant insurance coverage.
Comparative Perspective
When compared to other credit cards like the HDFC Bank Regalia and ICICI Bank Coral, the SBI Pulse Credit Card holds its ground well with its specialized health benefits and competitive rewards structure. It offers a balanced mix of perks that cater to both everyday spending and travel, making it a versatile choice.
Overall Rating
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The SBI Pulse Credit Card is a strong contender in the credit card market, offering a blend of rewards, health benefits, and travel perks that cater to a diverse range of needs. Its unique health-oriented benefits and solid rewards program make it an excellent choice for individuals looking to maximize their card usage in these areas. While there is room for improvement in certain aspects, the overall package provides substantial value to its cardholders.
